AXMIN Inc.
TSX VENTURE : AXM

AXMIN Inc.

December 02, 2008 09:30 ET

AXMIN Announces Board Appointment

TORONTO, ONTARIO--(Marketwire - Dec. 2, 2008) - AXMIN Inc. (TSX VENTURE:AXM) is pleased to announce the appointment of Francois Jaclot as non-executive director of the Corporation effective December 1, 2008.

Mr. Jaclot is Chief Executive Officer of The Addax and Oryx Group Ltd ("AOG"), whose subsidiary AOG Holdings BV holds a 44.7% of the issued shares of AXMIN. Mr. Jaclot has occupied general management and Chief Financial Officer positions in several international industrial companies (Lafarge, Suez, InBev). Aside from his positions with AOG, Francois serves as a board member of several companies in the real estate and energy sectors.

Coincident with Mr. Jaclot's appointment, he was granted stock options for 150,000 common shares of the Company exercisable at Cdn$0.15 each expiring on November 30, 2013.

Mr. Mario Caron, AXMIN's President and CEO comments "We welcome the appointment of Mr. Jaclot to the Board and I am confident that AXMIN will benefit greatly from his broad knowledge of international and financial markets."

AXMIN would also like to report the recent granting of stock options for a total of 250,000 common shares of the Company exercisable at Cdn$0.15 each expiring on November 30, 2013. All of the stock options have been awarded equally to each of the five non-executive directors of the Company. These stock options have been granted in accordance with the Company's Stock Option Plan 2005. Immediately following this award of stock options the Company had on issue and outstanding stock options for 10,265,000 common shares of the Company and there were 16,962,990 common shares of the Company available for future grant.

In addition, Dr Jonathan Forster, AXMIN's Head of Exploration has been designated an Officer of the Company.

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on central and west Africa. AXMIN's goal is to move its Passendro Gold Project in the Central African Republic towards production. AXMIN is positioned to grow in value as it develops its project pipeline in parallel pursuing new opportunities to increase its asset base. For more information regarding AXMIN visit our website at www.axmininc.com.

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of AXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN's expectations are disclosed under the heading "Risk Factors" and elsewhere in AXMIN documents filed from time-to-time with the TSX Venture and other regulatory authorities. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • AXMIN Inc.
    Mario Caron
    President & CEO
    Direct T: (416) 368-0993 ext 223
    or
    AXMIN Inc.
    Judy Webster
    Manager Investor Relations
    (416) 368-0993 ext 221
    Email: ir@axmininc.com
    Website: www.axmininc.com